Doctoral Dissertation Research: Estimating a Dynamic Structural Model from Panel Data on Pacific Northwest Wood Products Firms

这笔赠款是为了支持一个论文项目。 该项目的目的是利用太平洋西北地区木材产品公司的木材购买和采伐决策数据，开发和分析投资行为的动态结构模型。 该项目有三个目标：第一，更好地了解公司投资的决定因素，特别是不确定性的影响和不对称的调整成本;第二，扩充关于解决和估计这类模型的方法的迅速增加的文献;最后，进一步启发目前正在进行的关于环境和经济因素在今后使用林地方面的相对重要性的政策讨论。 一个易于处理的计量经济学模型将推导出这是密切联系的理论，并结合了该行业的重要特征。 然后将使用丰富而广泛的数据集来估计模型并恢复结构参数。

This grant is to support a dissertation project. The purpose of the project is to develop and analyze a dynamic structural model of investment behavior using data on the timber purchase and harvest decisions of wood products firms in the Pacific Northwest. The project has three goals: first, to better understand the determinants of firm investment, particularly the effects of uncertainty, and asymmetric adjustment costs; second, to extend the rapidly growing literature on methods of solving and estimating models of this type; and finally, to further enlighten the policy discussion now taking place about the relative importance of environmental and economic factors in the future use of forest lands. A tractable econometric model will be derived which is closely connected to theory and which incorporates important features of the industry. A rich and extensive data set will then be used to estimate the model and recover structural parameters.